i3 Energy plc is targeting a 10-13% production increase over its 2022 average and has set a 2023 capital spending program of $64.1 million.
The 2023 program is forecasted to 23 gross wells (15.2 net, 70% net i3-operated) to be drilled across the portfolio in Central Alberta, Simonette, Wapiti, and northern Clearwater acreage in Canada.
Average 2023 production of 22,250-23,000 boe/d is expected, with an anticipated 2023 peak production rate of about 26,000 boe/d.
The company has increased its 2023 minimum dividend by 59.4% above the total dividends paid during 2022 to about $30.1 million.
